Following dramatic plunge in international oil prices last week, Filipino motorists can enjoy continued reduction in prices as gasoline product costs will be trimmed by P2.10 per liter, while diesel prices will be on rollback by P2.20 per liter
Following dramatic plunge in international oil prices last week, Filipino motorists can enjoy continued reduction in prices at the pumps as gasoline product costs will be trimmed by P2.10 per liter, while diesel prices will be on rollback by P2.20 per liter effective Tuesday, Aug. 9.
As of this writing, the oil companies that already advised on their price rollbacks had been Pilipinas Shell Petroleum Corporation, Cleanfuel, PetroGazz and Seaoil; while all of their industry competitors are anticipated to follow. The general forecast of industry experts and market watchers would be highly probable contraction of demand due to slowdown in economic activities; hence, the price of oil commodities will also soften.
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